Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
- Posts
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I expect the Hong Kongers to go quite mental when their Gold trading starts in a few minutes. Holiday time, girlfriends, sex always motivates.
gg
Historically they have been the commonest exchange currencies.Mr GG,
Are the hookers charging in gold now?
jog on
duc
This is HK, girlfriends need goldMr GG,
Are the hookers charging in gold now?
jog on
duc
And there certainly is precedence for 4x and 8x in relatively short time. 70s, 2001-2010. We are x2 since the 2019 break up.
It seemed ridiculous nonsense to me when I first saw $10,000, but you're right, it's not at all unprecedented, and we are facing a potentially very extreme future.
Of course, gold at US$10,000 means a dramatic collapse of the USD which means very nasty global changes, and doesn't necessarily mean similar increase in AUD. If the world is going that way, sure, you might as well do the best you can in that scenario, and I'm happy to be holding some gold, but the $10,000 per ounce gold scenario is not a future I want to see.
But at least GG and ducati will be able to afford hookers.
I will be able too but not sure my wife will let me, even if i offer her some gold jewellery......It seemed ridiculous nonsense to me when I first saw $10,000, but you're right, it's not at all unprecedented, and we are facing a potentially very extreme future.
Of course, gold at US$10,000 means a dramatic collapse of the USD which means very nasty global changes, and doesn't necessarily mean similar increase in AUD. If the world is going that way, sure, you might as well do the best you can in that scenario, and I'm happy to be holding some gold, but the $10,000 per ounce gold scenario is not a future I want to see.
But at least GG and ducati will be able to afford hookers.
Be fearful when all are exuberant and optimistic when all are in despair.It seemed ridiculous nonsense to me when I first saw $10,000, but you're right, it's not at all unprecedented, and we are facing a potentially very extreme future.
Of course, gold at US$10,000 means a dramatic collapse of the USD which means very nasty global changes, and doesn't necessarily mean similar increase in AUD. If the world is going that way, sure, you might as well do the best you can in that scenario, and I'm happy to be holding some gold, but the $10,000 per ounce gold scenario is not a future I want to see.
But at least GG and ducati will be able to afford hookers.
Be fearful when all are exuberant and optimistic when all are in despair.
I've had a look at some charts and this time of year is not usually a bullish time for Gold. So I've moderated my outlook and would not be surprised to see Gold retreat to $AUD 3500 ( PMGOLD at $35.00 ) which in $USD is about $2345. Barring a catastrophic fall in the $US which would send Gold ballistic I'll be next buying at about those levels.
Let us look at the toil of chasing the chaste ( is why they are called the chaste ) and not waste our time nor Gold on hookers.
gg
Before starting I should let everyone know that Alex Gluyas of the AFR is an undercover name of @finicky just so’s everyone is careful about what they say.These reporters are about seven months behind a 'breakout' in gold and silver.
I think the only short term risk with the POG this week is that a decent rate cut is probably already baked in.
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What are people's thoughts on FOMC, rates and effect on the POG?
How much of a cut is already baked in and what's an X% rate cut going to do?
I'm probably wrong, but I have the feeling this will be a buy the rumour, sell the fact kind of deal. The market is expecting interest rates to come down and I think that a 0.50% cut is already baked in. So I think we are going back under US$30 after the announcement. Maybe not right away, but soon. There will need to be more catalysts to drive precious metals higher.
Precious metals is priming for a big run but there will also be steep pullbacks. Price action will be very volatile. There are powerful forces who want these metals to move in both directions and we are in for one hell of a game of financial tug-of-war.
My feeling is that the US market is the most efficient and dynamic market bar none. Small business is suffering badly and affecting all American dynamics leading to political and social sclerosis and inflation. Having said that the market will sort it out and I would not be surprised to seeWhat are people's thoughts on FOMC, rates and effect on the POG?
How much of a cut is already baked in and what's an X% rate cut going to do?
Yeah, makes so much sense.Wild ride last night, glad I was snoozing.
In the end, almost back to the starting point, down slightly.
Looks like it might have been a hope for 75bps and sell the 50bps.
But, more cuts are in the winds. Maybe already factored in as well.
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Interesting @Sean K that the USD/AUD went exactly the other way, fall then recovery.Wild ride last night, glad I was snoozing.
In the end, almost back to the starting point, down slightly.
Looks like it might have been a hope for 75bps and sell the 50bps.
But, more cuts are in the winds. Maybe already factored in as well.
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View attachment 184438
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